13/02/2008
The recent money market turbulence has increased the cost of mortgages, especially bad news for first time buyers. House prices have risen over the last twelve months, and whilst now slowing quickly, this has created a double whammy for those trying to get a foot on the ladder.
Buy to let landlords have also had a worrying time – mortgage costs rising, resulting in reducing yields to the point where some owners have questioned the viability.
The Chartered Institute of Housing (CIH) and the Building Societies Association (BSA) has published data revealing that tenants now pay on average a third less than mortgage repayments on the same property. This could boost demand from tenants and enable continuing confidence in the buy to let sector.
If you are thinking of investing in a buy to let for the first time, adding to an existing portfolio of wishing to refinance you need to talk to Mortgages By Phone.
Mortgages By Phone will research the mortgage market for the best deal it has for you – and the advice is absolutely Free.
Your home may be repossessed if you do not keep up repayments on your mortgage. Calls are recorded for training and monitoring purposes. Mortgages By Phone LImited is an appointed representative of Connells Limited who are authorised by the Financial Services Authority for the advertising and recommending of regulated mortgage and general insurance contracts.